METAL-ORGANIC FRAMEWORK MARKET TO REACH A VALUATION OF ~US$ 24 MN BY 2027: TRANSPARENCY MARKET RESEARCH
In terms of value, the global metal-organic framework market is anticipated to expand at a CAGR of ~11% from 2019 to 2027
Metal-organic framework is a class of porous materials constructed from metal-rich inorganic nodes bonded with organic linkers. The structure provides high density of three-dimensional porous cores with a large surface area, uniform cross-linkages, and tunable porosity. Metal-organic framework possesses excellent absorption rate for hydrogen, water, carbon dioxide, and water. These key properties significantly impact its commercial applications in various end-use industries.
Consumption of metal-organic framework in the U.S., Japan, China, and South Korea is projected to increase significantly during the forecast period. In terms of volume, North America and Asia Pacific were the leading regions of the global metal-organic framework market in 2018. Currently, consumption of metal-organic framework is in the nascent stage; however, it is expected to rise significantly during the forecast period.
High Demand for Hydrogen Gas in Metal-organic Framework Market
End-use industries have been compelled to reduce carbon emission due to global warming. However, high demand for energy in residential and commercial sectors is fueling carbon emission across the globe.
According to the International Energy Agency, 2018 witnessed highest carbon emission, i.e. more than ~37 billion tons, in several countries around the globe. Rise in carbon emission has led to an increase in demand for pollution-reducing technologies, materials, and systems that can absorb carbon dioxide effectively.
Metal-organic framework possesses superior quality of absorption of hydrogen, carbon dioxide, hydrogen, and methane, due to its large surface area and high porosity properties. Growth in demand for materials that lower carbon emission in industries is estimated to propel the metal-organic framework market during the forecast period.
Lack of Commercialization to Hamper Market
Large numbers of universities, commercial research centers, material scientists, and researchers across the globe are conducting extensive R&D activities in metal-organic framework. Metal-organic framework is still seeking validation for commercial usage in key industries such as industrial gases, petrochemical, energy & power, oil & gas, chemical, and pharmaceutical. This is projected to hamper the metal-organic framework market during the forecast period.
The manufacturing process of the metal-organic framework is expensive, due to the need for advanced machinery for precise production output. Very few players produce metal-organic framework on a large scale, owing to its limited consumption. The price of one gram of metal-organic framework is quite high. This is likely to adversely affect the global market during the forecast period.
Copper-based Metal-organic Framework to Witness Demand
Based on type, the copper-based segment constituted a major share of the metal-organic framework market, in terms of revenue, in 2018. The segment is expected to expand at a CAGR of 11% during the forecast period.
Copper is one of the prominent materials used widely in key commercial applications, due to its high porosity and high-density benefits. It is compatible with industrial gases and other solvents.
Gas Storage Application to Drive Metal-organic Framework Market
Based on application, the gas storage segment accounted for a prominent share of the global metal-organic framework market in 2018. Metal-organic framework can absorb compressed gases such as hydrogen, methane, and acetylene.
Small amounts of metal-organic framework is required to absorb high volume of gases. This is an important characteristic for application of metal-organic framework in industrial gases and petroleum industries.
Asia Pacific to be Lucrative Market for Metal-organic Framework
In terms of value, Asia Pacific held a major share of the global metal-organic framework market in 2018. It is projected to remain a rapidly expanding region of the global metal-organic framework market from 2019 to 2027. Rapid industrialization in China and India can be ascribed to factors such as increase in demand for industrial gases such as hydrogen, methane, and propylene. This is driving the consumption of metal-organic framework in these countries.
Demand for metal-organic framework in North America is anticipated to be high, primarily in the U.S., due to increase in the adoption of metal-organic framework in various end-use applications and R&D activities in the region
Metal-organic Framework Market: Competition Landscape
The metal-organic framework market is fragmented, owing to the presence of several large and small manufacturers. Companies are focusing on strategic collaborations and partnerships with key end-use industries in order to increase their customer base. Prominent manufacturers operating in the global metal-organic framework market are:
GS Alliance Co., Ltd.
NanoResearch Elements Inc.
IMMATERIAL LABS LTD.
Promethean Particles Ltd
MOF Technologies Ltd
Numat Technologies, Inc.
Mosaic Materials LLC
Global Metal-organic Framework Market: Segmentation
Metal-organic Framework Market, by Type
Others (including Titanium, Zirconium, and Nickel)
Metal-organic Framework Market, by Application
Gas & Liquid Adsorption
Others (including Sensing and Luminescence)
Metal-organic Framework Market, by Region
Russia & CIS
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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